1/ How to find insider ownership (thread)

Go to the SEC EDGAR database https://sec.gov/edgar/searchedgar/companysearch.html

Enter the stock symbol in "fast search"

Let's use Mark Zuckerberg from $FB as an example

Click "Insider transactions for this issuer" (see image)
2/ Click on the insider's name

In this case, Zuckerberg Mark

You can also search for "CEO" if you don't know their name
3/ Click on the most recent Form 4 for the insider
4/ Click on the top file
5/ Find the shares & derivatives that the person owns

In Zuck's case, it totals about ~362 million shares
6/ Multiple by the shares (362 million) by the current $FB share price of ~$272

Zuck's $FB holdings are worth ~$98.5 billion*

(*That's a lot of money)
7/ Divide by the # of shares owned by total to see ownership on a % basis

To find total shares:

1⃣$FB investor relations website
2⃣Quarterly earnings release
3⃣Bottom of the income statement

$FB has 2,891 MM diluted shares

So Zuck owns 362 MM / 2,891 million or ~12.5%
8/ Another method is to use the proxy statement

Go to the SEC EDGAR database

Click on the company name

Search for "DEF 14A"

Click "documents" under the "format" tab
9/ Click on the top file that says "Definitive Proxy Statement"

*Note that proxy's are filed once per year. This one is from April 2020, so ownership can change a little bit over time due to buying/selling.
10/ Do a "Control + F" search for "ownership" or "beneficial"

Click down until you see this table

You'll see all of the key insider's ownership
11/ I like to see >5% ownership, but there's always nuance

If it's a founder/CEO, >5% ownership is reasonable to expect

If its a hired gun CEO and the company is huge, I care more about $ amount of holdings (like for Tim Cook at $AAPL)
12/ Inside ownership isn't everything

But it does show the level of skin in the game

You want insiders to feel the pain if the share price drops

I don't mind insider selling, either. Insiders sell for all kinds of reasons.
13/ Other sites also show inside ownership, but they are often wrong

Always double-check with the primary source!
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